WAEC Past Questions and Answers - Page 1639

8,191.

The price of a fixed asset at the end of its useful life is called

A.

Salvage value

B.

Depreciation value

C.

Annual depreciation

D.

Appreciation value

Correct answer is A

No explanation has been provided for this answer.

8,192.

Marginal cost of production is defined as

A.

Increase in fixed cost that results from increasing production by one unit

B.

Product of average variable cost and the number of units produced

C.

Average physical product multiplied by the variable cost

D.

Increase in total cost as output is increased by one unit

Correct answer is D

No explanation has been provided for this answer.

8,193.

An example of long-term liability of a farmer is

A.

Capital

B.

Interest

C.

Salary

D.

Taxes

Correct answer is C

No explanation has been provided for this answer.

8,194.

Determine the cost price of a farm equipment that has a salvage value of N500,000.00, a useful life of 10 years and an annual depreciation of N400,000.00.

A.

N500,000.00

B.

N900,000.00

C.

N4,500,000.00

D.

N5,500,000.00

Correct answer is C

No explanation has been provided for this answer.

8,195.

If an injured goat bleeds without clotting, it is likely that the goat is deficient in

A.

Vitamin D

B.

Vitamin K

C.

Vitamin E

D.

Vitamin C

Correct answer is B

No explanation has been provided for this answer.